Key regions: Russia, Spain, South Korea, Philippines, United States
In GCC nan, the Yogurt Market in the Dairy Products & Eggs Market of The Food market is experiencing slow growth due to factors such as low consumer awareness and competition from traditional dairy products. Despite this, the market is expected to see minimal growth in the coming years.
Customer preferences: With a growing focus on health and wellness, consumers in GCC and Yogurt Market of the Dairy Products & Eggs Market within The Food market are gravitating towards yogurt as a healthier alternative to traditional dessert options. This trend is further reinforced by the increasing preference for plant-based and non-dairy options, driven by the rise of veganism and lactose intolerance. Moreover, the demand for functional yogurt, such as probiotic and high-protein varieties, is on the rise as consumers become more health-conscious and seek products with added benefits.
Trends in the market: In the GCC and Yogurt Market of the Dairy Products & Eggs Market within The Food market, there is a rising demand for healthier and more natural options. Consumers are increasingly turning towards organic and plant-based yogurt products, driven by growing health consciousness and concerns over environmental sustainability. This trend is expected to continue, with a focus on clean label and sustainable sourcing practices. Industry stakeholders should take note of this shift and adapt their offerings accordingly to remain competitive in the market. Additionally, there is a growing demand for convenient and on-the-go yogurt products, leading to an increase in single-serve and portable options. This trend is expected to continue, as consumers seek out convenient and healthy snack options. Industry stakeholders should also consider investing in innovative packaging and marketing strategies to appeal to this trend and capitalize on the growing demand for on-the-go yogurt products. Overall, the trajectory towards healthier and more convenient yogurt options has significant implications for industry stakeholders, as they must adapt to changing consumer preferences and expectations to remain competitive in the market.
Local special circumstances: In GCC, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's hot climate, leading to a high demand for dairy products that provide a cooling effect. Additionally, the cultural preference for dairy-based products, such as laban and ayran, has contributed to the growth of the market. Furthermore, strict halal regulations in the region have led to the development of halal-certified yogurt brands, catering to the large Muslim population. These factors have created a unique market dynamic in GCC, setting it apart from other markets.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market is impacted by several macroeconomic factors. Global economic trends, such as consumer demand for healthier food options, play a significant role in driving market growth. Additionally, national economic health and fiscal policies can influence production costs and consumer spending, which can have a direct impact on the performance of the yogurt market. Other relevant financial indicators, such as inflation rates and currency exchange rates, can also affect market dynamics and consumer purchasing power. Furthermore, government support and investment in the dairy industry can greatly influence the availability and pricing of yogurt products, as well as consumer preferences. Overall, the market is greatly influenced by the economic landscape of the GCC and the rest of the world.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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